The governments of Canada and British Columbia joined community partners today to mark construction progress on Carey Place, a new 55-unit development for seniors in Saanich to be operated by Baptist Housing.

"Our government is taking action to ensure economic recovery and create the conditions for long-term growth here in Saanich and across the country," said the Honourable James Moore, Minister of Canadian Heritage and Official Languages and Regional Minister for British Columbia, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC). "New construction projects like this one are a great way to get the local economy moving, because they put construction workers and trades people to work quickly. At the same time, we're improving access to affordable housing for British Columbians in need, including seniors and people with disabilities."

"Carey Place is another example of our government's commitment to increase affordable housing options for British Columbians most in need," said Murray Coell, MLA for Saanich North and the Islands. "This development will provide seniors in the Capital Region with quality, affordable housing - and a safe place to call home."

Through an amendment to the Canada-British Columbia Affordable Housing Agreement, the federal and provincial governments are contributing to a combined total of approximately $4 million for 27 affordable Seniors' Rental Housing (SRH) apartments within Carey Place. Baptist Housing provided more than $3.25 million in cash equity for this project.

"The development of Mount View Heights continues to move forward with the construction of Carey Place," said Geoff Young, board chair, Capital Regional District. "We are pleased to have provided the land for this venture. These apartments will soon provide local seniors with the affordable housing they need so that they can remain close to their families and friends."

Baptist Housing is a non-profit organization that has provided quality seniors' housing, retirement and residential care homes throughout British Columbia since 1964.

"Capital Region seniors will soon have greater access to more affordable housing options in the community they know and love," said Howard Johnson, chief executive officer, Baptist Housing. "Once complete, Baptist Housing will continue our strong tradition of providing quality housing and exceptional care for seniors at Carey Place."

The SRH initiative is a result of a $365-million joint investment under an amendment to the Canada-British Columbia Affordable Housing Agreement, which includes funding through Canada's Economic Action Plan and by the Government of British Columbia. This initiative, first announced by the two levels of government on April 8, 2009, will provide $123.5 million, including $104 million for seniors and $19.5 million for persons with disabilities, to develop approximately 1,300 new affordable rental housing units, which will help to stimulate local economies in smaller communities across B.C. Under terms of the agreement, the provincial and federal governments are providing matching contributions of $61.79 million.

Canada's Economic Action Plan built on the Government of Canada's commitment in 2008 of more than $1.9 billion, over five years, to improve and build new affordable housing and help the homeless. It provided $400 million, over two years, to build new rental housing for low-income seniors. Overall, the Economic Action Plan included $2 billion for the construction of new and the renovation of existing social housing, plus $2 billion in low-cost loans to municipalities for housing-related infrastructure.

A new agreement signed recently by both orders of government implements B.C.'s allocation of the remaining three years of the $1.9 billion, which amounts to a further $90 million in federal funding for British Columbians in housing need.

The Province of British Columbia $14-billion capital infrastructure program is creating up to 88,000 jobs, building vital public infrastructure and stimulating local economies across the province.

For more information on this and other measures in Canada's Economic Action Plan, visit: www.actionplan.gc.ca

To find out how CMHC is working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642 or visit: www.cmhc.ca/housingactionplan

In 2010-11, the Province will invest over $562 million to address a range of housing needs from homeless to affordable rental housing. To find out more, visit: www.bchousing.org

A backgrounder follows.

Media contacts:

Valerie Rosenthal
CMHC Communications
604 737-4123

Vincent Chou
BC Housing
604 454-5444

Alyson Queen
Office of Minister Finley
819 994-2482

Aug. 3, 2011

Ministry of Energy and Mines

and Minister Responsible for Housing

Canada Mortgage and Housing Corporation

Carey Place

Carey Place will be located at 3812 Carey Road in Saanich. The four-storey wood frame building consists of 55 one-bedroom apartments, including:

• 27 Seniors' Rental Housing (SRH) apartments for low-income seniors, managed and operated by Baptist Housing.
• 22 affordable rental apartments for seniors in need, owned and operated by Baptist Housing.
• Six apartments owned by the Capital Regional District, managed and operated by Baptist Housing.

Construction is anticipated to be complete in May 2012.

Partners and Funding:

The estimated capital cost for the development of Carey Place is $9,954,240:

• The Government of Canada provided $2,004,750 through Canada's Economic Action Plan.
• The Province of British Columbia provided $2,025,000 through a Provincial Infrastructure Grant for Seniors and Persons with Disabilities and construction financing not to exceed $2,674,490.
• Baptist Housing will provide $3.25 million in cash equity for this project.

Baptist Housing Society of B.C.

Established in 1964, Baptist Housing is a registered charitable organization committed to providing quality seniors housing, retirement homes and residential care homes to B.C. seniors.

Media contacts:

Valerie Rosenthal
CMHC Communications
604 737-4123

Vincent Chou
BC Housing
604 454-5444

Alyson Queen
Office of Minister Finley
819 994-2482